Brokerages Anticipate Virtusa Co. (VRTU) Will Post Earnings of $0.58 Per Share

Wall Street brokerages forecast that Virtusa Co. (NASDAQ:VRTU) will report earnings per share of $0.58 for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Virtusa’s earnings. The highest EPS estimate is $0.60 and the lowest is $0.55. Virtusa posted earnings per share of $0.47 in the same quarter last year, which would indicate a positive year over year growth rate of 23.4%. The company is scheduled to report its next quarterly earnings report on Thursday, February 14th.

According to Zacks, analysts expect that Virtusa will report full-year earnings of $2.26 per share for the current financial year, with EPS estimates ranging from $2.22 to $2.29. For the next financial year, analysts forecast that the business will post earnings of $2.80 per share, with EPS estimates ranging from $2.75 to $2.85. Zacks’ EPS calculations are an average based on a survey of research firms that follow Virtusa.

Virtusa (NASDAQ:VRTU) last issued its quarterly earnings results on Thursday, November 8th. The information technology services provider reported $0.54 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.54. Virtusa had a positive return on equity of 9.03% and a negative net margin of 1.04%. The business had revenue of $305.50 million during the quarter, compared to analyst estimates of $306.37 million. During the same quarter in the prior year, the business posted $0.35 EPS. Virtusa’s revenue for the quarter was up 23.1% compared to the same quarter last year.

VRTU has been the subject of a number of analyst reports. Zacks Investment Research lowered Virtusa from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. SunTrust Banks increased their price target on Virtusa to $56.00 and gave the stock a “hold” rating in a research note on Monday, August 13th. Cantor Fitzgerald increased their price target on Virtusa from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, August 10th. Wedbush increased their price target on Virtusa from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, August 31st. Finally, Barrington Research set a $64.00 price target on Virtusa and gave the stock a “buy” rating in a research note on Wednesday, October 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Virtusa presently has an average rating of “Buy” and an average target price of $61.00.

In other news, President Samir Dhir sold 4,000 shares of the firm’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $49.55, for a total transaction of $198,200.00. Following the completion of the transaction, the president now owns 118,822 shares in the company, valued at $5,887,630.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 5.11% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Virtusa during the second quarter valued at about $229,000. Summit Creek Advisors LLC lifted its holdings in shares of Virtusa by 35.0% in the 3rd quarter. Summit Creek Advisors LLC now owns 175,929 shares of the information technology services provider’s stock valued at $9,449,000 after acquiring an additional 45,567 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Virtusa by 8.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 148,231 shares of the information technology services provider’s stock valued at $7,216,000 after acquiring an additional 11,859 shares during the last quarter. Redwood Investments LLC lifted its holdings in shares of Virtusa by 30.9% in the 2nd quarter. Redwood Investments LLC now owns 398,295 shares of the information technology services provider’s stock valued at $19,389,000 after acquiring an additional 94,102 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Virtusa by 28.0% in the 2nd quarter. KBC Group NV now owns 51,674 shares of the information technology services provider’s stock valued at $2,515,000 after acquiring an additional 11,292 shares during the last quarter. Hedge funds and other institutional investors own 86.06% of the company’s stock.

VRTU stock traded down $0.21 during trading on Friday, reaching $39.71. The company’s stock had a trading volume of 2,494 shares, compared to its average volume of 170,275. Virtusa has a 1 year low of $38.67 and a 1 year high of $58.60. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.44 and a current ratio of 2.44. The firm has a market capitalization of $1.19 billion, a PE ratio of 45.13, a PEG ratio of 1.27 and a beta of 1.23.

Virtusa Company Profile

Virtusa Corporation provides digital engineering and information technology (IT) outsourcing services worldwide. The company offers business and IT consulting services, including advisory/target operating model, business process re-engineering/business management, transformational solution consulting, and business/technology alignment analysis; omni-channel digital strategy, experience design accelerated solution design, and employee engagement; and application portfolio rationalization, SDLC transformation, and BA competency transformation services.

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Earnings History and Estimates for Virtusa (NASDAQ:VRTU)

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